Business
Why Rayfield Gardens City Estate Ibadan is adopting Solar Power – Fendini Homes MD Reveals
The MD/CEO of Fendini Homes, Prince Laja Adeoye, has disclosed the idea behind the adoption of solar energy to power the Rayfield Gardens City Estate in Ibadan.
Adeoye, the developer of Rayfield Gardens City Estate, Christopher Adebayo Alao Akala GRA, Wofun, Akobo Extension, Iwo Road, Lagelu Ibadan, explained this in an exclusive interview with Journalists in Ibadan, Oyo State capital.
According to him, he said that for any modern estate to function and to have near constant electricity, they must be able to provide residents with constant power, which has made Rayfield Gardens City to switch all the street light in the estate to 100% Solar power.
Laja further averred that, Fendini Homes is out to give their subscribers a whole new living experience, in a more serene environment, with modern Architectural smart home designs, and quality construction aimed at creating lasting impression for the subscribers.
He noted that Fendini aim is to ensure that at no point the Estate is in darkness, because they cannot control the government generated electricity but with Solar, their subscribers can be assured of effective Estate lighting at night, which will enhance liveliness, visibility and security of residents.
He said: “As you can see in our proof of concept, we have had street lightning on for the past one year in the Estate, as there is no night you come here to our Estate that you won’t see light.”
“In addition to perimeter fence lighting units in every homes, each of the houses will have solar light pole installed to them, to ensure that the entire Estate is well illuminated at every point in the night.”
“Renewable sustainable Energy is the game changer and for us, we are out to ensure that we provide all our residents with quality Infrastructures, such as solid paved roads, drainages, multi-layer power (Grid and Solar Power) and Security, treated water plants, fiber optics fast internet penetration/5G Network and smart homes automation technology.”
“We carefully and painstakingly designed each of the houses to have at least 10-20KVA of solar power installed on them, depending on energy needs of the residents, to phase out generators in order to achieve Zero Noise Estate.
“To us, the beautiful and esthetics environment matter so much to us, as there will be clean air, clean environment, flowers and Gardens.
“Again, we are also trying to achieve Zero noise, away from from fossil fuel powered Generator, which comes with carbon emissions, but Solar Lights on the Streets and those installed in each units of the houses will mitigate against air and noise pollution in the Estate.
“We are also going to have centralized treated water plants, which will be piped and metered to each units of the houses. All of these will be handled by the Facility Management department of the Estate, thereby creating good services and value to all the Subscribers.
Laja also briefly spoke about funding and investment opportunities of the project, and according to him, he said interested Sub-developers, who wants to invest to develop some of the units of the Estate are allowed to join as they already have a template for investors, who wants to do business with the company.
“We have designed a master plan, which fits for everyone who wants to do business with us, and interestingly, we have landed spaces in our commercial wing for those who wants to invest and build Standard Hotels, Primary and Secondary school, Office complex/ Banking Hall/Show Rooms, Amusement Park, Hospital/Pharmacy Complex, Conference Center, gym house and more.
“The idea is to have a one stop shop Estate, first of it’s kind in Oyo State, where you can simply walk into Shopping Complex in the Estate to buy groceries, visit gym to exercise your body for fitness, take your kids to school without hassles, host your friends in the Hotels, or take your kids to amusement park for holidaying, he said.
Development of Rayfield Gardens City Estate, which situated at Christopher Adebayo Alao Akala GRA Ibadan is a Public Private Partnership (PPP) initiative between Oyo State Government and Fendini Limited, to provide about 400 housing units to residents and interested prospective home buyers across the world.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.
The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.
The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.
The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.
The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.
Current status
The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.
As the case is pending before the court, the allegations remain subject to judicial determination.
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Business
CBN revokes 46 MFBs’ licences
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 Microfinance Banks (MFBs).
CBN’s Ag. Director of Communications, Mrs. Hakama Sidi-Ali disclosed that the revocation becomes effective today.
She emphasised that the revocation was in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
“The revocation was approved by the Governor of the Central Bank of Nigeria, Mr. OlayemiCardoso, following the banks’ failure to meet the regulatory requirements for continued operation as licensed financial institutions,” she said.
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
Others were: failure to commence operations within 12 months of licence approval, and failure to maintain minimum capital funds unimpaired by losses.
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